Zim must clear arrears to get loan, says IMF

Zim must clear arrears to get loan, says IMF – NewZimbabwe 17/03/2016

ZIMBABWE cannot receive an International Monetary Fund loan program until it pays off money owed to the Fund’s anti-poverty trust fund, an IMF spokesman said on Thursday.

“In terms of financing, Zimbabwe cannot have a financial arrangement with the IMF because it has accumulated arrears to the poverty reduction and growth trust,” IMF spokesman William Murray told a news briefing. “The Zimbabwean authorities plan to clear their arrears to this trust soon.”

Zimbabwe’s central bank governor told Reuters on Wednesday that the African country expected to receive an IMF loan in the third quarter of 2016, its first in nearly two decades, after paying off foreign lenders by the end of June.

COMMENTS

WORDPRESS: 2
  • comment-avatar
    Joe Cool 6 years ago

    The Zimbabwe governments one and only financial plan and economic strategy – to borrow money.

  • comment-avatar

    No bank is going to let these clowns have another cent. The only time they will “lend” money to them will simply be a paper transaction whereby the bank lends them more money to service the outstanding loan, so the bank does not have to class the account as in default